• Stamp Duty

    By Guest on 02nd May 2016

    I'm borrowing money against my partner's property in order to fund the purchase of a property which needs work and is currently not mortgageble. My name is added to the deeds of my partner's property to enable me to re-mortgage it, and therefore, when I purchase my property, my name will be on 2 sets of deeds, effectively then I'll own 2 properties. I believe therefore that I'll have to pay stamp duty on the new property, even though the purchase price is 125K. Once work is completed (in about 6 months) I expect the property I'm buying to be eligible for a mortgage and will transfer my mortgage from my partner's home to my property, at which time I'll have my name removed from the deeds of my partner's home, and his from mine. We will continue to live separately, each using our own property as our main residence. Will I at that point be able to claim back any of the stamp duty paid?

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